BOILERROOM EQUIPMENT ACQUIRED BY THERMAL ENERGY INTERNATIONAL

STATEMENT ON ACQUISITION BY VINCE SANDS, PRESIDENT: 

I am pleased to announce the acquisition of Boilerroom Equipment Inc. by Thermal Energy International. While we are very proud of the company we founded and built, we recognized that for BEI to achieve everything it is capable of required partnering with a larger organization that can provide the resources it needs. Thermal Energy's commitment to keep all current employees and manufacturing in place was paramount to our decision. I have accepted their offer to stay on as President primarily because they share my passion to establish the HEATSPONGE brand as the global leader in indirect-contact heat recovery, which is going to make the next few years very exciting.

BEI PRESS RELEASE: The press release on the acquisition of the company is below